Condo resale prices drop 0.6% in October on higher volume

NON-LANDED private residential resale prices fell 0.6 per cent in October 2015 compared with September, while transactions rose. Resale volume was up 9.8 per cent.

All the regions - city, city fringe, and the suburbs - posted price drops, of 1.1 per cent, 0.5 per cent and 0.4 per cent respectively. Year on year, prices in October 2015 dropped 2.6 per cent from October 2014.

This was according to SRX property data released on Wednesday.

Meanwhile, the price change in September was revised from a 0.1 per cent decrease to a 0.3 per cent decrease.

In October, about 505 condominium and apartment units were resold, compared with 460 units resold in September.

Year on year, resale volume in October 2015 was flat compared with 504 units resold in October 2014.